Palo Alto Networks, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Palo Alto Networks, Inc. (PANW) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $350.7 million, or $0.99 per share. This compares with $194.2 million, or $0.56 per share, in last year's first quarter.

Excluding items, Palo Alto Networks, Inc. reported adjusted earnings of $544.9 million or $1.56 per share for the period.

Analysts on average had expected the company to earn $1.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.8% to $2.138 billion from $1.878 billion last year.

Palo Alto Networks, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $350.7 Mln. vs. $194.2 Mln. last year. -EPS (Q1): $0.99 vs. $0.56 last year. -Revenue (Q1): $2.138 Bln vs. $1.878 Bln last year.

-Guidance: Next quarter EPS guidance: $1.54 - $1.56 Next quarter revenue guidance: $2.22 - $2.25 Bln Full year EPS guidance: $6.26 - $6.39 Full year revenue guidance: $9.12 - $9.17 Bln